Boralex (TSE:BLX) Shares Pass Above Two Hundred Day Moving Average of $31.60

Shares of Boralex Inc. (TSE:BLX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$31.60 and traded as high as C$35.52. Boralex shares last traded at C$35.50, with a volume of 539,231 shares.

Wall Street Analyst Weigh In

BLX has been the topic of a number of recent analyst reports. National Bankshares raised their price target on Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. Royal Bank of Canada lifted their target price on Boralex from C$36.00 to C$38.00 in a research note on Thursday, August 15th. Cibc World Mkts upgraded Boralex to a “strong-buy” rating in a research note on Monday, July 22nd. Scotiabank lifted their price objective on shares of Boralex from C$38.00 to C$42.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Finally, Cormark upped their target price on shares of Boralex from C$45.00 to C$47.00 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$43.22.

Boralex Stock Performance

The stock has a market capitalization of C$3.65 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 0.94 and a beta of 0.45. The business’s fifty day moving average is C$33.54 and its two-hundred day moving average is C$31.67. The company has a quick ratio of 1.54, a current ratio of 0.95 and a debt-to-equity ratio of 175.24.

Boralex (TSE:BLX) last issued its quarterly earnings data on Wednesday, August 14th. The company reported C$0.10 EPS for the quarter, topping analysts’ consensus estimates of C$0.04 by C$0.06. The business had revenue of C$180.00 million during the quarter, compared to analysts’ expectations of C$211.65 million. Boralex had a net margin of 9.91% and a return on equity of 6.69%. As a group, research analysts anticipate that Boralex Inc. will post 1.2283737 EPS for the current fiscal year.

Boralex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, August 30th. This represents a $0.66 annualized dividend and a yield of 1.86%. Boralex’s payout ratio is currently 70.97%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.